Foreclosures
is the process that begins when a homeowner (borrower) is in breach of their mortgage contract, and unable to make their mortgage payments. The end result is the action of taking back the property from the homeowner (borrower).
Liens
an official order that allows someone to keep the property of a person who owes them money until it has been paid off.
Code Violations
the action of not adhering to a structure of rules which in this case applies to real estate.
Bankruptcy
the inability to pay debts; the decision to declare bankruptcy occurs.
Divorce
the legal process of ending a marriage.
Probates
the legal process of deciding if a person’s will has been made correctly and if the information it contains is correct.
Unemployment
the state of not having a job.
Relocations
the process of moving to another location (to live, or work).
Vacant Properties
a property that is not occupied and available to be utilized.
Absentee Owners
individuals who decides to leave a property, and in most cases seldom visits the property
Creative Financing
new or unusual ways of legally getting money to finance real estate.
Evictions
the act of forcing individuals to leave; for example their home.
Inheritance
– money, land or possessions received from someone after the person has died
Sub2
is a technique used where the buyer absorbs the responsibility of the existing mortgage of the homeowner without involving the banks (meaning) the buyer purchases the property leaving its existing financing in place.
Funding
EMD, and Transactional (short-term) funding. Email: ernest@patern.org for more details.